National home prices, including distressed sales, declined by 7.8% in October 2009 compared to October 2008, according to First American CoreLogic and its LoanPerformance Home Price Index.
The Federal Deposit Insurance Corp. is contemplating securitizing at least $10 billion of delinquent and underperforming whole loans belonging to failed banks in the first quarter, according to investment banking sources who have been briefed about the plan.
The Federal Reserve has purchased more than $1 trillion in agency mortgage-backed securities to support the mortgage market this year and Fed officials are trying to wind down its $1.25 trillion purchase program by March 31.
Cenlar FSB has leapfrogged over Dovenmuehle to become the nation’s largest subservicing vendor thanks to a new contract with Freddie Mac as well as strong growth in its core primary business.
On Monday, Interactive Mortgage Advisors will officially start the bidding process on an $11.1 billion package of jumbo ARM servicing rights belonging to the bankrupt Thornburg Mortgage, according to officials close to the deal.
Loan Value Group, Rumson, N.J., is close to partnering with a national mortgage lender to begin rolling out a patent-pending program aimed at heading off “strategic default,” according to industry sources.
By the end of the third quarter the estimated number of homes heading toward foreclosure but not yet included in “unsold inventory” figures reached 1.7 million, up from 1.1 million a year earlier, according to new First American CoreLogic data.
